SeaChange International, Inc. (SEAC) Short Interest Up 31.5% in September
SeaChange International, Inc. (NASDAQ:SEAC) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 822,686 shares, an increase of 31.5% from the August 31st total of 625,826 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average trading volume of 68,919 shares, the days-to-cover ratio is presently 11.9 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its position in SeaChange International by 59.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 51,250 shares of the software maker’s stock valued at $127,000 after acquiring an additional 19,045 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in SeaChange International in the 2nd quarter valued at about $132,000. King Luther Capital Management Corp grew its position in SeaChange International by 16.7% in the 1st quarter. King Luther Capital Management Corp now owns 70,000 shares of the software maker’s stock valued at $174,000 after acquiring an additional 10,000 shares in the last quarter. Northern Trust Corp grew its position in SeaChange International by 5.7% in the 2nd quarter. Northern Trust Corp now owns 87,357 shares of the software maker’s stock valued at $232,000 after acquiring an additional 4,702 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in SeaChange International by 13.7% in the 1st quarter. Prudential Financial Inc. now owns 95,500 shares of the software maker’s stock valued at $237,000 after acquiring an additional 11,500 shares in the last quarter. 71.76% of the stock is owned by institutional investors.
Shares of SeaChange International (NASDAQ:SEAC) opened at 2.70 on Thursday. The stock’s market capitalization is $95.81 million. The company has a 50-day moving average of $2.65 and a 200-day moving average of $2.60. SeaChange International has a 1-year low of $2.05 and a 1-year high of $2.99.
SeaChange International (NASDAQ:SEAC) last issued its quarterly earnings data on Wednesday, September 6th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $17.20 million during the quarter, compared to the consensus estimate of $17.94 million. SeaChange International had a negative return on equity of 15.80% and a negative net margin of 54.54%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the company earned ($0.21) EPS. On average, equities research analysts expect that SeaChange International will post $0.01 EPS for the current fiscal year.
A number of analysts recently weighed in on SEAC shares. ValuEngine raised shares of SeaChange International from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 8th. Zacks Investment Research lowered shares of SeaChange International from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th.
About SeaChange International
SeaChange International, Inc (SeaChange) is engaged in the delivery of multiscreen video. The Company’s products and services facilitate the aggregation, licensing, management and distribution of video and advertising content for cable television system operators, telecommunications companies, satellite operators and media companies.
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